Jeep Sales Up 17% in June Boosting Chrysler to 7% Increase

July 1, 2016 by Paul Ausick

Year-over-year sales rose 7% at Fiat Chrysler Automobiles NV (NYSE: FCAU) in June to 197,073 units, the company’s best June sales level in 11 years. The Jeep brand posted a sales gain of 17% year-over-year, its best June sales ever. The Jeep Compass posted a sales gain of 128%, the Renegade posted a monthly sales gain of 99%, and Grand Cherokee sales rose 9%. The venerable Jeep Cherokee saw sales decline by 12% year over year in June.

Analysts at Kelley Blue Book (KBB) had projected June sales at 201,000 units, down 8.6% year over year. Edmunds.com analysts estimated that the company would sell 197,000 units last month. KBB had estimated an average selling price of $34,835 for June, up 3.8% year over year and down 0.1% month over month.

The company’s Jeep brand sold 83,691 units in June. Jeep has now set a sales record for 33 consecutive months. The all-new Jeep Renegade sold 9,688 units in June and has moved a total of 52,237 units in the first six months of the year.

Ram pickup sales jumped 14% in June to 38,126 units, after posting a sales decline of 3% year-over-year in May. Last year, Ram sold 33,332 pickups in May. Ram pickups posted their best June sales since 2004.

Year-over-year sales of the company’s Chrysler brand fell 20% as sales of the Chrysler 200 tumbled 58% year-over-year in June to 7,817. Sales of the Chrysler 300 slipped 7% to 3,669 units. The all-new Pacifica minivan posted June sales of 7,207, sharply higher than a total of 2,495 units sold in May. April was the first month of the vehicle’s availability.

The company’s Dodge brand sales rose 3% year-over-year in June, and sales of the Dodge Caravan rose 79% to 13,473 units in the month.

Chrysler did not publish an estimate for the industry’s seasonally adjusted annual rate (SAAR) nor did it publish its days of inventory on hand.

Chrysler’s shares traded up about 2.6% Friday morning at $6.28 in a 52-week range of $5.78 to $10.93.

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